The world at a glance . . . Europe

Europe

Cologne, Germany

Huge tax evasion scandal: German CEOs have been evading taxes for years by stashing money in accounts in Liechtenstein, police said this week. The Bundesnachrichtendienst, Germany’s equivalent of the FBI, said it paid some $8 million to an informant for a CD containing information from a Liechtenstein bank. The first head to roll was that of Deutsche Post chief executive Klaus Zumwinkel, whose home was searched last week as rapt Germans watched live on television. Zumwinkel quickly resigned. Police said raids on prominent individuals would continue for weeks. Liechtenstein, a tiny principality known as a tax haven, is furious at revelations that Germany has been spying on its banks. “Germany has clearly failed to understand how one behaves toward a friendly state,” said Crown Prince Alois.

The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

Join more than 350,000 subscribers and keep yourself informed with a selection of The Week’s most interesting, enlightening and entertaining stories - plus daily puzzles.

Join more than 350,000 subscribers and keep yourself informed with a selection of The Week’s most interesting, enlightening and entertaining stories - plus daily puzzles.

Sign up
Latest Videos FromThe Week
Explore More